After years of uncertainty and enforcement-heavy headlines, the United States is fast becoming fertile ground again for crypto innovation. A new wave of optimism—fueled by policy shifts, potential legislation, and a pro-crypto stance from President Donald Trump—has prompted several major crypto firms to either return to, expand within, or double down on the US market.
From trading giants to stablecoin issuers and asset platforms, eight major players have already taken the plunge in 2025. Here’s a breakdown of who’s making moves and why the US is suddenly crypto’s comeback kid.
1. Binance.US Brings Back USD Trading as CZ Seeks Trump’s Pardon
Binance.US made headlines early in the year by reinstating USD deposits and withdrawals—a key service it suspended in June 2023 amid a wave of regulatory crackdowns.
The move followed a series of legal battles, including a $2.7 billion CFTC settlement and a $4.3 billion plea deal with the DOJ that saw former CEO Changpeng Zhao (CZ) step down and receive a prison sentence. Despite his legal woes, CZ is reportedly petitioning President Trump for clemency—banking on the president’s track record of pardoning crypto execs.
2. eToro Eyes Wall Street With Ambitious IPO Plans
After resolving SEC allegations in 2024 over operating without proper registration, online trading platform eToro is pushing ahead with plans to go public. The company filed to list on the Nasdaq under the ticker “ETOR” and is aiming for a $4 billion valuation through a $500 million offering.
Though its US crypto offerings are now limited to Bitcoin (BTC), Ether (ETH), and Bitcoin Cash (BCH), eToro’s IPO reflects renewed investor appetite and regulatory clarity for retail-focused crypto platforms.
3. OKX Returns With New HQ and Compliance Overhaul
In April, OKX made its official return to the US market with a phased reentry strategy and a new headquarters in San Jose, California. This comes shortly after the company settled with the DOJ over anti-money laundering lapses, agreeing to a $500 million fine.
The exchange tapped former Barclays executive Roshan Robert to lead US operations, highlighting a more compliance-driven approach. According to Robert, a more predictable regulatory roadmap is now emerging, offering firms like OKX a clear path forward.
4. Nexo Reenters US Market After Regulatory Breakthrough
Nexo, a global crypto lending and trading platform, reintroduced its services to US users in late April, following a multi-year stalemate with regulators. The firm had exited the market in 2022 after legal clashes over its Earn Interest Product.
With renewed support from political allies—including an endorsement from Donald Trump Jr.—Nexo is now offering credit lines, trading tools, and savings products tailored for US clients. “Nexo is coming back stronger and smarter,” said co-founder Antoni Trenchev.
5. Circle Moves HQ to NYC, Eyes $5B IPO
Stablecoin issuer Circle is going big in 2025, shifting its global base from Boston to New York City’s One World Trade Center—a symbolic move aligning with its IPO ambitions.
Circle officially filed to list on the NYSE with JPMorgan and Citi as underwriters, seeking a $5 billion valuation. CEO Jeremy Allaire framed the relocation as a statement: “We’re building trust and stability at the heart of modern finance.”
6. Crypto.com Introduces Stock and ETF Trading for US Users
Crypto.com is expanding beyond crypto. As part of its 2025 roadmap, the exchange will offer US users access to stocks, ETFs, and traditional banking services—bridging the gap between DeFi and TradFi.
Managing director Travis McGhee said the firm is responding to client demand for a unified financial experience: “You can now trade crypto, stocks, and derivatives all in one place.”
7. a16z Backs Out of UK, Refocuses on US Amid Trump Momentum
Andreessen Horowitz (a16z) made waves in January when it announced the closure of its London office—just 18 months after opening—citing slow regulatory movement in the UK.
Anthony Albanese, COO of a16z crypto, pointed to “strong momentum” in the US thanks to the Trump administration. The firm is now rechanneling efforts stateside, betting on a more innovation-friendly environment to foster Web3 and blockchain projects.
8. Coinbase Acquires Deribit to Dominate Derivatives
Coinbase capped off the recent surge of US activity with its $2.9 billion acquisition of crypto derivatives giant Deribit. The deal instantly made Coinbase the largest derivatives exchange by open interest and came amid a fierce battle with rivals Kraken and Robinhood for global dominance in derivatives trading.
Just hours after the announcement, Coinbase’s international derivatives platform hit $10 billion in daily volume—a clear signal that the firm is betting big on the future of crypto futures.
Final Thoughts: A Regulatory Pivot with Global Ripples
This wave of expansion isn’t happening in a vacuum. Bills like the STABLE Act and GENIUS Act are making their way through Congress, potentially laying the legal foundation that could unlock a golden era for US crypto markets. Whether these firms are capitalizing on regulatory optimism or trying to get ahead of compliance mandates, one thing is certain: the US is back on the crypto map—and the industry is moving fast to stake its claim.
